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816 Neches River Drive Mckinney, TX 75071

4 Beds 4 Baths 3,520 sqft Built 2017

$549,000

List Price

$2,690

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $155.97
  • 7 Days on Market
  • MLS # : 14461892
  • Updated Date : 10/28/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,520 sqft
  • Baths : 3 full , 1 half
Listing Agent

Jp & Associates Frisco

Listing Agent's Description

WOW! This Ashton Woods home has it ALL. Media room, game room, study, formal dining, and 4 bedrooms in this one-story ranch style home. Located in the highly desirable Trinity Falls, on a huge lot with no backyard neighbors! Curb appeal for days with its stucco exterior and metal roof. Check out this kitchen with a beautiful DEKTON waterfall island and custom cabinets to the ceiling. Open concept perfect for entertaining with sliding glass doors to the back patio. Frameless shower and standalone tub in the master bathroom with oversized walk-in closet. Bedrooms located in all corners of the home for complete privacy. 2.5 car garage! Walking distance to community pool & splash pad. MUST SEE!

SEE MORE

MARKET HIGHLIGHTS

  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)
  • Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
  • Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)
  • Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 75071

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k360k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 75071

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Press Elementary School Primary Regular 495 40 5
Scott Johnson Middle School Middle Regular 876 65 6
Mckinney North High School High Regular 2,089 134 8

Press Elementary School

  • Education Level: Primary
  • # of students: 495
  • # of teachers: 40
5
GreatSchools Rating

Scott Johnson Middle School

  • Education Level: Middle
  • # of students: 876
  • # of teachers: 65
6
GreatSchools Rating

Mckinney North High School

  • Education Level: High
  • # of students: 2,089
  • # of teachers: 134
8
GreatSchools Rating
 

$494,100$603,900$549,000

PURCHASE PRICE

$2,421$2,959$2,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,690
EXPENSES Loan Payment -$2,026
Property Tax -$1,034
Property Insurance -$231
HOA -$100
Property Management Fees -$99
CASH FLOW
-$799

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$549,000

PROJECTED PRICE

$2,690

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,235

INVESTMENT

$151,235

Down Payment
$137,250
Rehab Estimate
$5,750
Closing Costs
$8,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$2,026

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,250
Loan Amount $411,750
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$39

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,690

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $3,062

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,6903$2,950
$2,950
RENT COMPS ANALYSIS
  • 816 Neches River Drive Mckinney, TX 2
    • 4 beds 4 baths ∙ 3,520 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,520 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,690
    • $0.76
    •  
  • 7900 Medina Way Mckinney, TX 1
    • 4 beds 3 baths ∙ 3,220 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,220 Sqft ∙ Built 2015
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.82
    •  
  • 7916 Wichita Falls Boulevard Mckinney, TX 3
    • 5 beds 5 baths ∙ 3,195 Sqft ∙ Built 2017 5 beds 5 baths ∙ 3,195 Sqft ∙ Built 2017
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.92
    •  
PROPERTY LISTING DETAILS
Amanda Grantham
Jp & Associates Frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14461892
Last Updated: 10/28/2020
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